Will all the above components work properly with each other? Have any of you experienced problems with the above? Any suggestions are welcome.
P.S. I'll probably be getting the computer in 2-3 months time.
And I'm located in India, so getting a few brands(like EVGA) is going to be a problem. :(

Since your in India, I'd assume your ambient temps are somewhere in the range of 30*C+ in summer, get an aftermarket cooler for your CPU. A Scythe cooler like the Yasya shouldn't cost too much or be too hard to get there and get the Vapor-X Sapphire for sure.

Quite similar to what I am building. I went with a Seasonic 750 watt PSU, but the 750 Corsair is good, too. I also suggest a CPU cooler, I went with the Cooler Master Hyper 212 Plus. Sapphire 5870 Vapor-X is a very good choice. I chose Asrock X58 Extreme Mobo, an I7-920 CPU (with plans to Overclock), 6 gigs of Corsair Dominator RAM, and WD Caviar Black 1TB drive. Honestly, it depends on what's on sale when you're ready to place your order.